ABB India posts biggest growth in orders in years

ABB is working in sync with the government to realise its renewable energy vision and 24x7 reliable power for all. And new orders in UHVDC (ultra high voltage direct current) transmission technology projects pioneered by ABB, which reduces losses to transmit clean energy over long distances, would be key to realising this dream.TNN | February 28, 2017, 08:28 IST

New Delhi: The Indian arm of Swiss power and automation group ABB posted biggest growth in orders in recent years with orders worth Rs 12,466 crore in 2016. In quarter ending December 2016, the company received orders worth Rs 5,628 crore.

ABB India posted a revenue of Rs 2,492 crore for the quarter and Rs 8,648 crore for the full year.

ABB is working in sync with the government to realise its renewable energy vision and 24x7 reliable power for all. And new orders in UHVDC (ultra high voltage direct current) transmission technology projects pioneered by ABB, which reduces losses to transmit clean energy over long distances, would be key to realising this dream.

In line with the government's 'Make in India' initiative, ABB India has been consistently investing to deepen footprint in the country, innovating and deploying global technology for domestic and international markets. The robust order backlog complements ABB India's proven execution ability to provide a strong foundation for profitable growth in the future.

"Our performance is built on deeper customer engagement, more value added offerings and the organization agility to adapt to changing global and local market demand cycles. Our focus on operational excellence with consistent work on cost and cash has ended the year with solid results," said Sanjeev Sharma, CEO and Managing Director, ABB India.

The Board of Directors of the company has recommended a dividend of Rs 4 per share (200 per cent).

“To save the environment and to fight climate change, my government has planned a major campaign. By 2022, we want to generate 175 GW of renewable energy. In the last three years, we have already achieved 60 GW or around one-third of this target,” he said.